The technological explosion of recent years has had a huge impact on the ways in which you can manage your business and accounts. Management information systems have proved to be a real game changer, but there are still some pitfalls to be negotiated alongside the undoubted bonuses.

We’ve produced a short video to help guide you along the way and assist you in making the most of the opportunities afforded by these new systems.

Summary of those key points on management information systems:

  • Gathering information is key. If you want to make sure that you’re gathering and managing it most effectively, it’s crucial that you use a strong accounting software package, along with the most appropriate operational system for your business.
  • You have to consider the best way in which to store the information that you gather. Cloud computing can provide a simple solution, allowing you ease of access – anytime and anywhere.
  • Security is paramount. Cyber crime is a real threat and something which can have a hugely damaging impact. Make sure that your data is held securely.
  • Build upon the information you gather. Business intelligence and analytics allow you to do this effectively.
  • Act upon the information that you gather. By looking at the bigger picture, you can understand what really matters to you and your company’s board. Make sure that your management information system is tailored to suit the gathering and harnessing of that data.

How can My Financepartner help you get the most from your management information system experience?

When you work with My Financepartner, you’re working with the PwC family. That means years of experience across all industry sectors and an understanding of how best to gather and use data. Your dedicated Financepartner can assist you in ensuring that you have the right framework in place for your company’s needs.

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